Are you struggling to identify the ideal MBA location as a launchpad for the next chapter of your career? How to decide where to launch yourself post-MBA to best propel your career trajectory? This article will delve into key considerations of deciding your best-fit MBA location.
Alignment with Personal Development Goals
It is essential to align your choice of MBA destination with your personal and professional development goals, as each location offers unique industry landscapes, networking opportunities, and cultural experience.
Hong Kong and Singapore are frequently compared as Asian economic powerhouses. As a global financial hub bordering mainland China, Hong Kong provides unparalleled access to the world's second-largest economy (According to the World Bank). This proximity opens doors to vast business opportunities and allows you to tap into China's booming markets. With its strong economy, low taxation regime, business-friendly environment and vibrant pace, Hong Kong offers an ideal location to develop a career in different industries, or leverage your MBA to transition into strategic roles within multinational corporations.
Singapore, on the other hand, is often considered Asia's Silicon Valley, boasting a thriving tech and startup scene that attracts those seeking an entrepreneurial environment. Ultimately, the best choice depends on your own career aspirations – whether you envision yourself navigating the complexities of global business landscape amidst Hong Kong's diverse cultural tapestry, or driving innovation within Singapore's dynamic startup sector and network with Southeast Asian countries.
Post-graduation Work Visa Flexibility
When choosing an MBA location, visa policies play a crucial role. Unlike traditional employment visas that restrict your job search or require employer sponsorship in other countries like the US or Singapore, Hong Kong's Immigration Arrangements for Non-local Graduates (IANG) visa offers unparalleled flexibility. With the IANG visa, you will have a generous 24 months to secure employment after graduation, providing ample time to explore diverse opportunities, start your own business, or gain valuable experience across different industries. This flexibility allows you to shape your career path according to your passions and ambitions, without having to go through the uncertainties of work visa application in other locations.
Harsh Mody’s Strategic MBA Choice
Take it from Harsh Mody, an HKUST Full-time MBA alumnus from Class of 2018 who strategically picked HKUST MBA as his launching pad to pivot his career from investment banking and startup to management consulting. Mody set his sights on Asia's high-growth market, particularly China, and strategically landed in Hong Kong for its flexible IANG work visa and expat and business-friendly environment. While in other countries like the US or Singapore, Mody felt their visa limitations for foreigners and the uncertainties in eligibility to work there would make their post-MBA career journey trickier. Harsh's post-MBA career trajectory took him from consultant to his current leadership position as Principal at the Boston Consulting Group in Hong Kong.
“I chose Hong Kong specifically for its very liberal Visa regime. The HKUST MBA did a good job of making available a lot of different tools. MBA is a very personal journey and it comes down to each individual how you choose to leverage those resources,” said Harsh in an alumni sharing webinar.
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Table Summarizing Considerations of MBA Study in Popular Locations
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US |
Europe |
Hong Kong |
Singapore |
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Major Post-MBA Visa Policies for International Graduates |
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Market Landscape |
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Minimum Salary/Income Tax Bracket |
10%5 |
Depend on countries
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2%9 |
15% (for non-residents)10 |
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Remarks: Information in this table is updated as of March 2024 and for reference only. Always check with your target school and the relevant governing body for the latest information when making your MBA decision. |
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Source:
1.Top MBA.com – Remaining in the US After Your MBA: OPT and H-1B Visas
https://www.topmba.com/blog/remaining-us-after-your-mba-opt-and-h-1b-visas
2.European Education Area – Visas for work in Europe after graduation
https://education.ec.europa.eu/news/visas-for-work-in-europe-after-graduation
3.HKSAR Immigrations Department – IANG
https://www.immd.gov.hk/eng/services/visas/IANG.html
4.Singapore Ministry of Manpower – Work Passes
https://www.mom.gov.sg/passes-and-permits
5.US Internal Revenue Service – Federal income tax rates and brackets
https://www.irs.gov/filing/federal-income-tax-rates-and-brackets
6.Gov.uk – Income Tax rates and Personal Allowances
https://www.gov.uk/income-tax-rates
7/Republique Francaise – Tax Scale
https://www.service-public.fr/particuliers/vosdroits/F1419?lang=en
8.impots.gouv.fr – What is the average tax rate and do I qualify for it ?
https://www.impots.gouv.fr/international-particulier/questions/what-average-tax-rate-eligibility
9.GovHK – Tax Rates of Salaries Tax & Personal Assessment
https://www.gov.hk/en/residents/taxes/taxfiling/taxrates/salariesrates.htm
10. Inland Revenue Authority of Singapore – Individual Income Tax rates
https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/tax-residency-and-tax-rates/individual-income-tax-rates#title2
